Bitcoin Forum

Bitcoin brings a new system to financial freedom to those countries that doesn't have a strong banking system, it's help people to receive, send and save money, without having a bank account, with the help of just phone and data connection.
‎Since Bitcoin is now global, and no government intervention or any institution controlling it, this make people have full access to their money, and protect it from inflation or currency collapse, it helps the international transaction more easy, fast and cheaper,
‎When it comes to the unbanked countries, Bitcoin create doors to international financial inclusion, anyone can easily invest, trade or go into online businesses, it also help to promote innovation and digital investment, it can  lead to economic growth and new opportunities,
‎In all Bitcoin helps people to send,store grow financial wealth freely.

When you talk about Bitcoin solve a problem from a country who don't have banks, I don't think it will work without any issue.

Let's imagine, you can buy, sell and hold Bitcoin, you will have a problem to find a merchant who accept Bitcoin as payment alternative. If the country not having banks, which can be said the country is old-fashioned, they won't know about Bitcoin which is a new thing for them.

Hence, banks is still important since most of merchants only accept fiat.

Your title though might be a bit off, is there any nation without a banking system? Bitcoin was created to be a much better solution to the financial system, an alternative to the governments manipulated system.

The ability to bypass unstable banking systems and protect savings from hyperinflation is arguably Bitcoin's most transformative feature globally.

For long many governments fought against bitcoin because they feared it already beat them. Now they all fathom at what bitcoin can do.

Yeah, Bitcoin is a lifeline for countries with weak or corrupt banking systems. It doesnt care about borders, banks or governments, you just need a phone & the internet &  you are instantly part of the global economy ;)

People who never had the opportunity to save or transact internationally before are now able to store wealth in Bitcoin. This allows them to protect themselves from inflation &  the financial instability caused by erratic central banks. While price fluctuations are still a big problem for some, in the long run Bitcoin could become the most effective means of achieving true economic freedom. Especially in countries that don't have banking facilities, the more Bitcoin is adopted, the stronger &  more influential this network will become.

I do not know about Bitcoin protecting from inflation in countries where inflation AND poverty is extremely high.  It protects me from inflation but I can still save Money and survive a Bitcoin drop.  In very poor countries where a lot of people are not even sure if tomorrow they will have any food to eat, it becomes harder to use Bitcoin to their help.  If a drop can hurt a Bitcoiner who does not rely on Bitcoin to survive, I can not even imagine how hard this hit would be for a poor family who already tries to survive the local inflation rates.  They can not wait years like we can for the Market to recover.

Yeah, its a cool idea, but right now, the bad stuff might be worse than the good for people who dont have much money.  Like, Bitcoins price jumps around like crazy.  That means the money people are trying to save from inflation could lose value fast, which sucks for those who cant afford to lose it.  And, needing the internet and a phone leaves out lots of folks who dont have bank accounts or those in the most remote areas.

In as much as I understand you perfectly and actually think that it’s that bitcoin isn’t much of a solution to the Rural areas because without banks there will be many problems like even if you manage to trade your bitcoin with fiat it will be hard to actually make use of the bitcoin because you still need to actually withdrawal from this banks to use in your areas, the only exception is if there are places to do transfer for payment and bitcoin isn’t going to be rejected as a payment option then it will be easier to use this option OP is talking about

It's rare to see countries these days who don't have banks. Entrepreneurs are mostly trusting banks for their money, even if they've known bitcoin already. That's because for such people living in a country like banks do not exist, they are afraid to take risk most especially in a decentralized currency where the government does not even trust. So even if bitcoin may give them financial freedom, still I don't see the possibility that people will take advantage on it, though they may try to invest for a small amount but banking on their own bitcoin, it could bring a lot of confusion for them at first.

I just remember another thread why bitcoin is not a great choice for a merchant and it is true to an extent due to the volatility factor. For a merchant or any kind of business they need to preserve the value in the short term and it should be used to restock the sold items but imagine if they are accepting only bitcoin and their margin is 5% but bitcoin is down already 20% so they lost 15% of their capital value, so it is necessary for them to have bank accounts or they should move to state the prices are based on sats and their purchase also based on sats.

Rural areas don’t support the use of digital currency bitcoin for example, funny enough bitcoin is embraced by advanced countries and society. I’m wondering how op expects rural areas to replace the old banking system used by so many, bitcoin is an alternative use for profitable reasons not to replace banks rather you can gain your freedom without a third party. Well, I see underdeveloped countries adopting bitcoin for their own personal gains commonly for the economy growth and financial breakthrough yet bitcoin investment needs time before anyone can benefit firstly will average citizens hold for long? While countries will invest for the long run.

There are digital financial services that does not need bank to cash out money.  So I do not think that having no bank will be an issue for cashing out Bitcoin.  Like if we look at Binance P2P there are lots of payment options in there, and buyer deposit the fiat currency to the designated payout by the user.  So even if there are no merchants available that accept Bitcoin, users can still cash out through Cashless payment system and can use it to pay for goods online or in a convenience store, or supermarket.

If the urban areas do not find it easy to achieve financial freedom with bitcoin, hence the same scenario with rural areas, or they may even find it harder compared to urban areas. Because most of the people living far from civilization, or let's say far from banks, would hardly understand how bitcoin works, so there are still high chances that they won't adopt bitcoin as their own bank, but will still wait for banks to be visible in their own country.

My point is, if people living in the heart of the city would hardly approve bitcoin as their own bank, the worst scenario will be seen from those living outside innovation and technology.

You'll rarely find people and merchants accepting Bitcoin in the rural areas. But if you happen to stumble one so, that's good. Don't expect that the adoption in those areas are quick but a little by little, people are going to catch up with that. One example is with El Salvador, not all knows Bitcoin but with the government declaring it as a legal tender and with their help to push adoption, everyone gets to learn about it. And I think it will be the same if the local governments are also going to be there to promote and help with massive adoption.

Is there any country in the world that doesn't have a bank? LOL.

I agree with you. While Bitcoin is currently developing, it is still a minority in legitimate transactions and is not recognized by banks around the world. Therefore, our transactions will be limited to users who understand Bitcoin and are willing to accept it. There are still many obstacles to using Bitcoin as a global transaction tool, especially its slow and expensive scalability. Let's look at El Salvador. Perhaps we can see how difficult it is for them to adopt it.

It is still time to get out of the banking system that the government has created in every country in the world for so many years. People from all over the world can use Bitcoin. However, Bitcoin has not yet reached all kinds of people in the same way that the banking system has reached all kinds of people. To use Bitcoin, one must have enough understanding of security. One must have some knowledge of technology, only then can one use Bitcoin properly. For example, those in our country who have enough knowledge about Bitcoin are giving it more importance as a savings asset than a transaction. After a few years, most people will use Bitcoin in the world , but they may not do it for daily life transactions. Because no one will buy everything they need to live their lives with any valuable thing. And Bitcoin is now the most valuable digital currency, the rate of increase in the value  is higher than gold. Therefore, Bitcoin will gain more acceptance as a long-term asset in the future.

The banking systems is as old as the fiat and there can exist no country in the world that uses fiat and has no banking system in the country. In there you can not find the type of digital financial system that can function as a cash out means for money and especially not in the rural setting.

Binance as a p2p payment option you must have to receive your money in the local currency and the designated payout has to be into a bank account for merchant whom is willing to receive the bitcoin to pay in cash.

And positing that your proposal can work it will have to be in society where the citizens are technological savy and can simply navigate transactions at a digital currency level. Such an advanced stage of transactions will first require the people to have knowledge of banking system to even understand why they actually needed bitcoin in the first instance.

With bitcoin, we have to have a sense of being self custody oriented with our assets, because bitcoin is a decentralized digital currency and we can't have government influence over it neither do the centralized commercial institutions have something to do with influencing it, because this is the point where financial freedom begins and we can choose to create our wallet at any time by ourselves, contrary to how an account is being created.

OP, although bitcoin was created with the goal of being a peer to peer currency without the need for a third party. But you need to know one thing, bitcoin is not being used as it was originally designed. It is being used as an asset, and its value is measured in USD or other local currencies. That means countries without banks or people without bank accounts. They won't know about bitcoin, won't be able to own it, or won't be able to use it as a replacement for banks, fiat money.

Not to mention, in rural areas, knowledge and access to internet and technology is very limited. If they don't have access to banks yet, it will be even more difficult for them to access bitcoin. Therefore, bitcoin is not the solution.

Of course, we still can't completely set aside traditional banks. Every country still needs them. Even with Bitcoin, there are still cases where banks act as third parties for example, when dealing with certain P2P merchants. We are now in the era of internet technology, which is widely used all over the world.

Sure, we can say that there are other ways to transfer or send Bitcoin or cryptocurrency across different countries, but only a few places actually have merchants that accept it. What about remote areas where only remittance outlets or e-wallets are available as channels for sending money? However, I still believe that Bitcoin can be one of the ways for us to experience financial freedom.

Is there any country that has no bank? The correct word would have been the unbanked population, that are mainly seen in developing nations. A crypto-friendly environment would attract more business, such as exchanges and other ventures that could create employment opportunities and increase government revenue. However, cryptocurrencies are not the only solution to a country's economic problems.

Those who want to use Bitcoin as a hedge against inflation would have to have a long-term plan. Bitcoin price could decline to an extent that selling it at a particular time could lead to losses. Bypassing financial restrictions in both local, regional, and international governments is an important benefit of using Bitcoin.

Many people in the rural areas are poor, volatility will make bitcoin not attractive to them for everyday payments. Except for the few who are knowledgeable about bitcoin and have what it takes to invest in bitcoin for long term term.

If we are talking about financial freedom for people in poor countries or rural areas, it takes alot to attain financial freedom, not just making payments everyday with bitcoin. First these people should have jobs or good sources of income they earn from while investing in bitcoin.  A job and a stable economy is neccessary for them. Bitcoin is not the sole solution to the problems of poor countries.

In other for you to invest in Bitcoin you need to buy it from someone or exchange using Fiat currency so you still need bank in other to invest in Bitcoin Because if you want to buy it from exchange or someone you will pay with Fiat currency to get Bitcoin.
So those people who are living in rural area can still have access to bank because if they can't have access to bank it is impossible for them to invest in Bitcoin, so it is not actually a benefit to them or a financial freedom to them if they don't have bank in their area because they still need to go to wherever there's bank in other to buy Bitcoin, the reason why I'm saying so is that if you are buying bitcoin from Exchange you need to do a transfer to them through bank so if you're having fiat in your hands you cannot do the transfer it is only true bank you can do it.

Bitcoin isn't directly controlled by governments and institutions, but many crypto exchange platforms are controlled by the authorities.
I can't imagine people living in rural areas located in underdeveloped countries having Trezor wallets and good internet connection. A phone might be enough to store crypto, but AFAIK phone wallets are more vulnerable to hacks. Even if such people in rural areas gather crypto, they will have to sell their crypto for fiat, in order to pay for goods and services. I don't think that any merchant in a rural area of an underdeveloped country accepts cryptocurrency payments. Do you have any idea for a popular enough non-KYC platform, where people living in rural areas could sell crypto for fiat?

First of all, when you talk about rural areas, you basically talk about people with no proper basic education or enough understanding of technology and technological advancements, and we know that even though it's not that difficult, someone with no technical understanding of how electronic devices work and how they can use banking apps or wallets will not be able to use Bitcoin. People in rural areas in most countries don't even understand English properly, and even if the language of the devices is set to their local language, they will still have a hard time understanding everything. So, usability is a very big issue in this case.

For this reason, if we want people in rural areas to use Bitcoin since they don't have access to banks, there will be a need for them to be taught everything from A to Z, and that includes using electronic devices and the internet, because without these things, you can't use Bitcoin. And, even after that, we know that a slight mistake in making a transaction can mess everything up, so if you send your Bitcoin to a wrong address or do something wrong, your money is lost forever, and I don't think someone with no knowledge about these things can be careful about all these things.

I agree with you, most would go and sell their coin back to fiat, if they have any crypto at all and know what they are doing..

I heard about Paxful being a good pick, but as of 2025, they went rougher with the KYC due to scrutiny with regulations.

I don’t know the part of the world which you are from, but in my country, most places which you will discover that they don’t have a strong banking system, those places are the rural areas, some of them don’t even have access to good internet service, they are not even educated, most of them don’t know about bitcoin, they never even heard about bitcoin before, then we should know that bitcoin cant be used for transactions in places like this.

People who stay in places like that do store their money at home, since they don’t have access to banks, and some believe banks are just waste of time, they believe if it’s stored at home, they can easily access there money.

Bitcoin is still having a long way to go, most people in rural areas in some part of the world doesn’t know about bitcoin yet, so I feel it’s going to take some time before those people will be able to properly understand bitcoin.

^ Basically, if we simplify it - we are still early.

And many more people will flock toward BTC.

You can easily create a bitcoin wallet without asking anyone's permission but how can you own bitcoin these days without a bank account? Especially in rural areas where bitcoin is not really popular and p2p trading is extremely difficult.
Additionally, bitcoin is yet to be legalized and used as a currency or popular payment method globally. How will you use bitcoin if there are no stores or merchants that accept bitcoin in your area? Finally, you also need a bank to be able to use your bitcoins.
Bitcoin can give us freedom but only to a certain extent, it will not be able to help us escape from banks and governments completely. Bitcoin will not replace or eliminate the role of banks.

It is rare to find a country without banking, as goods and services cannot enter the country without banks officially recognizing and facilitating transactions. Therefore I believe Bitcoin is more of an alternative than a primary payment. Unbanked countries show limited infrastructure and very little digital education. So before further how do they address their infrastructure issues?

We bring knowledge and perspectives that it may bring to the people.

Then - we move toward telling them about BTC.

Don't say that, they are not poor. Many are rich but are comfortable living within their resources because if their wealth and riches comes from their within. I do visit village people a lot, one thing about them is they make sure they cure hunger problem, after harvest they make sure they have enough food at home to feed them until next harvest, the guy in urban and city will be thinking of how to earn to be able to afford what to eat the following day.

The thing about rural area is they will always behave like people that are in rural area. You never see banks open a banking office their because it's going to bring low turn out for them. Bitcoin isn't going to change anything because many of them barely have internet to access the network, sometimes you struggle to make an ordinary call. Rural people live style are not what people in the city thinks about, even if you give them 1 Bitcoin per community, they will sell it for something value able.

As long as internet access is available, Bitcoin users can enjoy everything that can be done with their Bitcoin holdings using a smartphone, a device that almost everyone has nowadays.

The advent of Bitcoin as a currency system has brought many conveniences. In the past, a bank account was necessary, but with Bitcoin, this is no longer a requirement for everyone.
Everyone is their own bank, responsible for the Bitcoin they own.

With Bitcoin one can receive and send money through the use of Bitcoin wallet with an access of one's phone number in rural areas.
Notes: do not be afraid of the cause of the transaction because it is very cheap and affordable to everyone, giving room for even a common user to participate and get involved without fear of being scam, well secured and organize fast  and reliable transaction.

You're primarily talking about rural areas lacking a banking system, but have you considered that these remote rural areas might also lack the infrastructure needed for Bitcoin or any other financial system?

In many countries, remote rural areas suffer from weak basic infrastructure such as electricity, internet, and telecommunications networks. Without these basic things, Bitcoin cannot work. But if this infrastructure is available, then yes, Bitcoin can be a good alternative to banks.

It's quite easy, isn't it? Unlike banks, where opening an account requires supporting data like an ID card and phone number. You have to go to the bank if you don't have an ATM. The time limit is business hours; banks are closed during holidays. When someone opens a wallet to make transactions, anything above zero requires maintaining a password and wallet seed, otherwise you'll face problems later.

Beyond that, Bitcoin provides complete control over your money without intermediaries. Once it reaches mass adoption, perceptions will shift from simply saving and trading to being usable for anything, especially with the regulation of the financial system itself, which is more independent and digital. Everyone wants simplicity and simplicity, of course.

I know you are trying to say one or two good things about Bitcoin, but the truth is that, it speaks good and progressiveness for itself naturally without having to sugarcoat it. If I may ask you, how can Bitcoin help the unbanked population that doesn't have any bank account at all? I think this is not possible because at a point, they need bank to receive the fiat money, in case of a withdrawal. They also need it to send the money to receive Bitcoin. And even if you would collect a physical cash, the payer still need the cash, and where is he going to get that, if not bank? Though Bitcoin is decentralised and has been helping in many ways, in a context of banking, I think the benefit is in the crossborder payments, where we experience faster speed and lower transaction fees.

Bitcoin stands as a way out for corrupt countries and their banking systems, putting everyone with the use of Bitcoin off the situation of inflation and currency devaluation. One major important thing about Bitcoin is easy of international transactions without rules/regulations.


No doubts on that, because Bitcoin exists with the presence of Internet and electricity. Any area without these infrastructures, there might be no possibilities, except someone with such an idea comes into such an area with such developments. Literacy is major factor that must be considered when such a thing is to be looked into. An area where there are no educated persons, and people who doesn't know how to make use of smart phones and the internet, it might sound totally strange to their ears, therefore making them settle with the native banking system, while rejecting any new financial system that is brought to them.

There are people that failed to understand or they measured bitcoin based on the profit they can gain from it . Bitcoin offer more than that , infact bitcoin offer something that fiat cannot which is freedom. The freedom that comes with the use of bitcoin is something that shouldn't be neglected. The decentralised nature of bitcoin is something that makes bitcoin to be unique since government has no control over it. Offering investor the freedom .to freely transact without any third party interference.

User have been scammed in many ways through so-called Bitcoin investment platform that promised to have given users some percentage in return, the newbie had fallen victim of this fraudsters because of lack of knowledge about cryptocurrency and how it works. It's hard to say that users can't be scammed, yes,  Bitcoin on it's own is safe, organized and decentralized but the bad guys are using it to corrupt to their advantage.

You are right but increasing adoption of crypto by the government is also taking this over, they are forcing people to use the products they can easily control and our money so they can control us directly, they are playing a long term game by changing the rules and making the in their own favor, I won't mention how frustrated I am haha.

Anyways, the rulars of the backward countries or any developed countries can use it for anything, they can do whatever they want, but unlike cash, it leaves trail, which is not very good for many and can lead back to you easily again unlike cash even if their are tools but again government's involvement is making it hard to move it freely.

Where on this earth that there is no banking system again. Though there are some local communities that has no physical banking halls but they the rural dwellers use the online banks and banking system. In the rural areas many indigenes are using the online banking system which there is no transaction fees. And another thing to consider before allowing the rural communities to use bitcoin is,how many members in that area are interested to use bitcoin.
Bitcoin should be use massively at the unbarn areas before the rural area. You can't introduce bitcoin to the typical illiterate in the village level.

How do you buy Bitcoin?

That is very true, you can't expect a rural community to be patronizing this currency if the urban areas are not yet using this in major financial transactions. It would be very hard for rural areas to implement such financial system if they can't use it to the shops or other establishments in their area because they are only using fiat.
Also, consider that most rural areas don't have net. So how can they integrate this type of payment method when they lack the technology to execute it? They will surely be glad to stay on where they are now rather than adopt a system that is not appropriate to their living system.

Did you read my post to understand? It depends on what you consider to be rich. From what you are saying, you are only talking about self sufficiency and that is what most of these people are known for. But in real fact, these people lack access to basic facilities, they lack access to financial infrastructures and tools that can improve their standards of living in today's world.

Before we talk about introducing Bitcoin to some of the poor masses in rural areas, we must first consider their level of education. Illiteracy and ignorance is common in rural areas, it is not safe introducing Bitcoin to those who don't understand it. Many will lose their investments out of ignorance and carelessness. The government of those regions need to do more work to help these people before we talk about bitcoin.

True, most people start by using fiat to buy Bitcoin. But once you’ve got it, you don’t really need a bank anymore, you can trade P2P or use local sellers. Been seeing more of that lately on https://thebitbuzz.com/category/crypto-news/ too.

Your emphasis should be on rural areas in developing nations. This is because rural areas in developed countries have all the necessary facilities to use Bitcoin. And many of them also have the money to buy Bitcoin. In rural areas in poor nations, there are still rich folks, especially farmers.  I am aware of some of them who are millionaires, but their biggest impediment is illiteracy. In summary, Bitcoin can be used by anybody since it's just a currency, but numerous challenges have limited its use, particularly in rural areas. But with the right awareness through sensitisation Bitcoin use can spread in these rural areas, afterall some of these unlearned people still use online banking.

No need to ask for permission, no need to provide personal data and it doesn't take much time to create a bitcoin wallet. But in return, they need to have access, and basic knowledge of technology and the internet if they want to use bitcoin and get the most out of its benefits. This may seem easy for people in urban areas and have modern lives, but is it easy for people in rural areas? I don't think so.


Bitcoin gives you complete control over your assets, but you will eventually need to use bank accounts, centralized services as fiat is still the main currency. I bet you also have 1 or more different bank accounts and still rely on them on a daily basis, right?
Ultimately, you are still subject to the government and not free from their control.

You can be your own bank with bitcoin, that's the advantage there. However, when you speak of rural areas, the people living there may not even know what bitcoin is, or if ever they are aware that bitcoin exists, but it's not clear to them how bitcoin works and how it can be an advantage to the majority. And teaching them how to access bitcoin with their slow internet connection might be a struggle especially for them who are new to this kind of thing.

Bitcoin creates a true financial freedom, but it would take a longer span of time before these individuals in rural areas will be able to understand and recognize how to gain financial freedom with bitcoin.

There is a good chance that we have it already because why we choose Bitcoin at the first place? But there also people that doesn't really care about it but they only care about the profit potential that entails with Bitcoin. Government is already involved here because there is now regulations and it can be a good thing for some. This builds their trust to get involved in crypto. We are on a digital era right now, so even creating a bank account can also be instant now.

Without a bank, there will also be no fiat and each country must have their own fiat because we are on a modern day now. And then it must not be the banks that are approving imports in the country but there should be designated agencies for it. For now, it is clear that bitcoin is not overlapping the traditional payment methods/system, however it can still depend on the individual if they will now toss their fiat for Bitcoin. Bitcoin is digital and decentralized, which can mean that one doesn't really need a modern infrastructure to operate it.

Well, Bitcoin surely does a lot more wonders in terms of financial security and power for wealth accumulation and diversification.

We however forget the issues Bitcoin is facing with regulations and speculations that affect its adoption and market movement.

The government can't really let you own or operate a business with Bitcoin as the payment system, if they haven't regulated its activities in that particular country and that makes it hard as an option to receive payments for your business, because of the need of tax remittance and in some cases financial auditing where money laundering activities is suspected.

That will only be possible if there are also bitcoin enthusiasts who will gladly accept bitcoin in exchange for goods and services.  But if there are none, how can these people use bitcoin to promote financial freedom when there are no entrepreneurs around who will accept bitcoin as a payment method?

At the end of the day, those who knows the real value of bitcoin will never dare to spend it but will only focus on investing bitcoin for long term. If they can't use it as a currency, then they will use it to maximize their future profits through investing on it.

 

Alot of things that bitcoin was designed to achieve has actually changed. Bitcoin came to bank the unbanked. But now some people sell their appreciated bitcoin to go bank their fiat.
Banks have started integrating bitcoin and wanting to act like ETF, with the way things are going, seems I have seen the future already and it's so Bright

There is no way we can imagine a country having no banks, yet they have bitcoin. That's rare. And if they've known bitcoin, they won't use it as a currency because there are no merchants accepting bitcoin as a payment. And the only thing that's possible to happen is that people in this country will just hold bitcoin all they want and wait until they see their bitcoin's value grows. And unless there is no  single merchant who will decide to accept bitcoin, then their bitcoin is just for hodling alone, not as an aid to promote financial freedom.

Bitcoin will continue to grow and become an integral part of the global financial system in the future. Major changes in the global financial system have been truly felt since its arrival and along with its increasingly widespread adoption. One of the main advantages of Bitcoin is that it enables faster international transactions and opens up huge opportunities for financial inclusion, especially in developing countries.

More broadly, Bitcoin solves the problem without any issues. However, in countries where banking systems are limited or access is very remote, using Bitcoin as a means of payment for every transaction may be unrealistic. You can act as a broker to open up new business opportunities, wouldn't that be very profitable? Typically, in places like this, very few merchants accept Bitcoin as a means of payment.

It depends on how rural the area is. If it's rural but complete with all the necessary infrastructures and technologies, it won't be hard for the people to get into Bitcoin. But there are rural areas where villages are off-grid. It's a hard thing for the people there to get involved in Bitcoin.

Another thing is that access to Bitcoin mostly requires a bank account or at least an online banking account. Having money doesn't automatically mean you can save them in Bitcoin. Even in urban areas, it isn't that easy to convert your cold cash into Bitcoin. Most of the time, you'd have to go through traditional financial channels.

But the reality isn't like that. While I agree that Bitcoin can help people as a hedge against inflation, it doesn't actually help the unbanked in rural and even urban areas that much, because the role of banking is still very large, and very few merchants accept Bitcoin. The most it helps rural communities is remittances, as they can receive money from abroad more quickly and at a much lower cost than using traditional financial services. But they also need banks to cash out their money from exchanges. So you could say that the role of banking is still quite important and you can't eliminate it.

The problem is not that a country has no banks, but that there are many unbanked people who have no access to bank services. This isn't uncommon in third-world countries. I think it's estimated that around 1 to 1.5 billion people on Earth are unbanked. And we aren't taking about kids and minors, but adults. That's a big number. Those people need alternative ways to buy and sell. Bitcoin is one alternative.

Not necessarily. You don't have to advertise publicly that you accept bitcoin but you can still do it. You can swap your bitcoin to cash and use the cash to purchase the goods and services you need. There are ways around that problem.

Bitcoin needs approval from the government to be used for daily transactions. Maybe that will apply when all people are aware of the existence of Bitcoin so they will not have a problem when they use Bitcoin for daily transactions. People will still use banks for daily transactions because that is what they are familiar with.

So Bitcoin could be their new investment besides gold. Rural communities rarely send money abroad so they still use banks to transact. Bitcoin is not yet in that phase so we should wait for more until the government announces the new updates regarding Bitcoin.

Give it time.  Eventually (one hopes) you won't need to get in and out of bitcoin but just transact in bitcoin. 

No, I won't agree with you regarding having a bank account to acquire Bitcoin. You just need a strong intention to acquire Bitcoin. I have a couple of friends; I give them Bitcoin and crypto. They pay me in cash, though I am not a reseller, but I can't manage it for them. They really don't make bank transactions or any other MFS services; that's called mobile banking. In my country even people in rural areas have mobile banking, so even if they want to buy Bitcoin, they don't need a bank account.

Based on the topic, rural area people even struggle to have bank accounts, so using Bitcoin would be quite hard for them. As I said above, having Bitcoin doesn't mean you should have a bank account, but the question is about how smart the people are there. Definitely only smart people could use Bitcoin who have a proper knowledge about internet and Bitcoin. Bitcoin won't fill the lack of a banking system. Because Bitcoin isn't legal tender there, and you can't purchase goods for daily needs with Bitcoin. So everything depends on the circumstances.

People everywhere can enjoy the benefits of using Bitcoin. In regions where the banking system is not at a satisfactory level, people can get more benefits from using it. Ordinary people can easily create a Bitcoin account. Although it requires some knowledge to use it, if a person can use it by acquiring basic knowledge, he can get the most benefits in the financial world. Bitcoin plays an important role in receiving money directly from abroad, transactions and protecting financial assets from inflation and can get various advantages by using it.

Basically Bitcoin is designed without the need for a traditional bank account, meaning it is decentralized, to achieve financial freedom for its users of course you can use things like Digital Wallet or P2P, you can make Peer-to-Peer transactions, You can automatically make transactions directly with your friends or other people, of course they must also have the same digital wallet as you.

This means you can pay and receive or buy goods with Bitcoin even though there are no banks in rural areas, by using a hot wallet and cold wallet you can do anything with Bitcoin.

If make such traders similar to Bitcoin for pizza, you don't need banks, bank accounts and bank transfers. There are many other ways to trade, exchange bitcoin directly for the other things without banks but it does not mean people don't want to use banks and bank transfers for their trades.

When they interact with banks, bank accounts and bank transfers, they lose many things like privacy, anonymity and also have problems with tax. Governments can easily have their bank account data and use it as proof of taxation on any individual.

If they see this risk, they will use Bitcoin non custodial wallets to own their bitcoins, private keys, control transactions, protect privacy and can have many options to trade without banks.

The best way is to buy from exchange. Because if you buy from someone you know. You pay the person and the person I return send your the coins and paraventure the vendors is here too and you are here too. Aha, you case will appear in reputation as alt. So the best way is to buy it from exchange. There are many exchanges that accept Fiat to buy  crypto. Moonpay was a good medium to buy but it's like they are not working many part of the world.

I believe bitcoin has alot of advantages to those in the rural areas. For as much as there is internet connection in the environment, then you can be able to use bitcoin in fact bitcoin can serve as an easy and safe way for them to store their money. I know of the already existing distrust between most of these traders in the rural areas and physical banks especially since these banks are not in close proximity to access by them, once you can come with the crusade of how bitcoin can serve as a financial independence and freedom for them, they will quickly jump on it and the more the good testimonials come from the small number of those traders who started, the more the numbers can immediately multiply.

I'm not saying you have to have a bank account to acquire Bitcoin. I'm only saying it "mostly requires" one or at least mobile banking services.

OP talks about "true financial freedom for Rural Areas without bank". I'm saying it isn't that easy. Most often, "you'd have to go through traditional financial channels" which require you to open an account and provide personal information. Of course, that isn't "true financial freedom".

Indeed, there are ways to acquire Bitcoin without having to go through centralized financial institutions, but the options are extremely limited. I once had a friend asking how to get Bitcoin. He wasn't necessarily buying. He was just asking how somebody interested could get some. I wasn't being detailed in my answer but the most realistic and convenient response--and the one that I gave--was to mention popular online banking, Paypal, and so on combined with centralized exchanges.

Absolutely right, and although I've been around crypto for a long time, it was only recently that I truly learned how Bitcoin can save a person's life when there's a crisis in the country and banks and money transfer systems are failing.

This happened to me a year ago, and I panicked. Seriously, I could have sent the money to my parents so they could pay for my loans. So I simply asked a friend who understands crypto so I could send him some Bitcoin, and he would convert it into fiat and give it to my parents. And damn, it all worked out.

It's the fastest way. The most secure? - I wouldn't be so sure.

If you do not have a bank account, you cannot buy or sell bitcoin. Finally , the money comes from or goes to bank only.

This can run smoothly when all aspects involved in adopting Bitcoin agree on its use. Because in business, the circulation of capital inevitably becomes a traded commodity. If a merchant accepts Bitcoin, but the merchant's supplier does not accept Bitcoin, then without banks, the circulation of money for business would be disrupted. However, in terms of financial management, people are certainly free to control their own money. But in practice, they may encounter some disruptions.

I'm located in the rural part of the country. A few years back people felt it was difficult using the ATM machines. People continued to use the banks for withdrawal and deposit needs. Slowly people started to get adapted to the development happening around them. As a part of this, people started to use ATMs and deposit machines. Specifically, to reduce the workloads, bank officials accept money in higher denominations only. This made every person learn the usage of ATM machines for withdrawal and deposit. Slowly the e-wallets emerged, and people weren't ready to use them. Little by little this changed, and people are perfect to use it now. Even the small store has a QR code for payment, and people find it more convenient. So, for crypto to reach the rural part of any country, it takes time, and the technology needs to be even more convenient than the present method of payment. Only then do people move towards it.

Where you cannot buy BTC without a bank? ;D

I agree with you, and you are correct. Despite banks having their limitations and many disadvantages, they still play an important role, especially when it comes to the selling of bitcoin in exchange. Bitcoin is here to cover up and prevent the banking system and inflation from frustrating people.

This doesn't mean banks are completely useless, and people will have nothing to do with them. Bitcoin is very volatile, and people can't completely depend on it for daily transactions, and this is where banks come in, as they are needed for keeping some amount of money for immediate needs. I doubt that OP doesn't have any bank account and completely depends on bitcoin for day-to-day transactions.

I think that currently, many people are still dependent on fiat, and the digital era of financial transactions in everyday life hasn't fully begun. This is understandable, as the government hasn't yet permitted transactions with currencies that have received clear legal authentication as a medium of exchange for everyday transactions.

I don't know if anyone else, besides El Salvador, has legally permitted it. And banks certainly have their advantages and disadvantages. But to date, whatever the circumstances, they are our bridge for deposits and withdrawals.

Bitcoin can definitely performed well without the presence of banks, it's designed having a decentralized nature from the beginning. However, the only problem here, since we are talking here about rural areas, I doubt if the people here have clearly understood the function of bitcoin, or it could be majority are not even aware that bitcoin is here to act as a currency. It could be possible in urban areas since they're close to being civilized, but  I don't think this kind of assumption will be easy for rural people. Well, it could be but it could take a long process maybe.

That is true if people in cities who are surrounded by tech still find it hard to fully understand or trust bitcoin then it is definitely going to be tougher for those in rural area most people there don’t really get how it works yet so they all probably keep relying on bank until bitcoin becomes easier and more practical for everyday use.

The knowledge to make use of a Bitcoin wallet is one that anybody serious to learn can learn in a day and start sending and receiving Bitcoin. The developers of wallets has made it so easy that it isn't had anymore to make use of them unlike how it was when Bitcoin first started. Therefore that's not an excuse for people not adopting Bitcoin. Bitcoin is easy to understand  and to make use of. The areas that don't have banks, they can make use of Bitcoin but first the government of those areas have to be friendly with Bitcoin because alot of individuals will be scared to make use of something that hasn't been approved by the government because they don't want to become victims of the government punishments.